Database as a Service Market valuation will reach USD 773.23 billion by the en

The Global Database as a Service Market size is estimated to be USD 8.37 billion in 2019 and is predicted to reach USD 773.23 billion by 2030 with a CAGR of 50.9% from 2020-2030. Database-as-a-Service is software which permits the users to manage provision, configure, consume, and operate database software by means of a common set of abstractions, without having to neither know nor care about the accurate implementations of those abstractions for the particular database software. This software led to the improvement and standardization in performance, productivity, and data security of databases.

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The improvement and modernization in infrastructure coupled with technological advancement over the period of time. Furthermore, increased adoption of cloud based services and increased demand of operational cost led to further expected to proliferate the market over the forecast period.

The other factors includes increase in database workloads led to the increase in cloud database coupled with wide applications of database as a service in different verticals and increased demand of automation is expected to support the growth of database as a service market. However, increase in cyber attacks led o the increase in privacy and security concern expected to hamper the growth of database as a service. On the other hand increased use of smart devices coupled with increase in flexibility and increase in IoT and artificial intelligence with increase in cloud base data are expected to create numerous opportunities in the market in the near future.

Market Segmentations and Scope of the Study:

The global database as a service market share is analyzed on the basis of service, end user and geography. On the basis of service, the market is segmented into Public Cloud Service, Private Service, and Software. On the basis of end user, the market is divided into Banking, Financial Services, and Insurance (BFSI), Hospitality, Government, Healthcare and Life Sciences, Media and Entertainment, Professional Services, Academic, Telecommunication, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to hold the major market share over the forecast period owing to the increased adoption of database as a software coupled with increase in database firms and increased adoption of database clouds due to the increased adoption of cloud based deployment is expected to augment the growth of database as a service market over the forecast period.  

Asia Pacific is expected to show tremendous growth with substantial increase in market share attributed by increased demand low operational cost with increased productivity and efficiency coupled with wide application in different industries are expected to further promote the growth of database as a service industry in the near future.

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The database as a service, which is highly competitive and fragmented, consists of various market players. Some of the major market players include Amazon Web Service, Accenture, IBM, CSC, HOSTING, CenturyLink, Microsoft, Rackspace, Oracle, SAP, Redcentric, EMC, HP, Google, and Tesora among others.

There have been various developments taken place in the past and will further takes place in future which together contribute the overall market growth. For instance, in September 2018, Amazon Web Services, Inc. (AWS), an Amazon.com company, has announced the availability of new High Memory instances for Amazon Elastic Compute Cloud (Amazon EC2). Purpose built to run large in-memory databases, including production deployments of SAP HANA, Amazon EC2 High Memory instances deliver 6 TB, 9 TB, and 12 TB of memory today, with 18 TB and 24 TB instances coming in 2019.

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omkartmr Joined: November 10th, 2017